La-Z-Boy Q4 Profit Meets Estimates; Sales Fall Short

(RTTNews) - Furniture maker La-Z-Boy Inc. (LZB) reported net income for the fourth quarter of $20.2 million or $0.39 per share, compared to $12.2 million or $0.23 per hare for the year-ago quarter.

Income from continuing operations for the fourth quarter was $19.8 million or $0.38 per share, compared $14.6 million or $0.27 per share in the prior year quarter.

Excluding items, adjusted income from continuing operations was $0.38 per share in the fourth quarter, compared to $0.33 per share in the fourth quarter of fiscal 2014.

Sales for the fourth quarter rose 6.2% to $374.94 million from $353.02 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.38 per share on revenue of $379.13 million for the fourth quarter. Analysts' estimates typically exclude special items.